Vyrill, a video commerce platform powered by in-video search technology, just reeled in a seed funding round of US$3 million. With the fresh cash, the US-based company aims for business and resource expansion, as well as product and technology development.
The round was led by Noemis Ventures and Lightship Capital. Other investors included Gaingels, Gener8tor, IBOS Ventures, and Nurture Ventures, along with a group of prominent individual angel investors, such as the head of engineering at Google Shopping, the former head of payments at Apple, the SVP of e-commerce at Salesforce, and others.
“Two of our favorite industries are artificial intelligence and consumer packaged goods (CPG). We see a winner in both of these spaces in Vyrill. They use AI to make CPG companies unstoppable, giving them a true superpower. The power to see, understand, and react to any content, anywhere, at any time. It’s like magic, and we are so excited to be investors in this transformative company,” said Brian Brackeen, general partner at Lightship.
In a nutshell, Vyrill’s platform works as a social listening tool that uses in-video search tech to dig through brand mentions in online videos. The AI separates and scans the audio, image, and text in each video to collect various data points, such as product sentiment, trending topics, keywords, hashtags, competitors, and more.
The platform also collects influencer profiles to help marketers find potential figures to work with – whether it is for a campaign or getting a license to use their video for marketing purposes.
Early players with in-video search function
Vyrill claims to be the first platform to come up with in-video search technology for commerce. CEO Ajay Bam and co-founder Dr. Barbara Rosario launched the platform in 2017, right when they were participating in UC Berkeley’s Skydeck Incubator Program. The duo spent three years on research and machine training before launching the app.
To date, big brands like Porsche, Revlon, Hot Tools, Y&R, and others are using Vyrill’s platform.
The platform’s pricing starts from US$199 per month. The enterprise rate is available upon request for brands that need to work with more than 300 videos. Meanwhile, the company has yet to disclose its traction publicly.
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